Binh Son Refining and Petrochemical Joint Stock Company (stock code BSR ) has just announced the documents for its 2025 Extraordinary General Meeting of Shareholders, with the deadline for receiving ballots for opinion polling being September 30th. A key item on the agenda is a proposal regarding the plan to issue shares to increase charter capital from equity (bonus shares) and issue shares as dividend payments.
Binh Son Refinery and Petrochemical Company makes a big move by issuing nearly 2 billion shares as dividends and bonuses for shareholders.
PHOTO: BSR
Specifically, the company plans to issue 930 million shares to pay dividends at a rate of 30%, meaning shareholders owning 10 shares will receive 3 new shares. The source of funding is from undistributed after-tax profits as reported in the 2024 audited financial statements. Simultaneously, the company will also issue nearly 977 million shares as a bonus to shareholders at a rate of 31.5%, meaning shareholders owning 1,000 shares will receive 315 new shares. The funding will come from the investment and development fund.
The two plans will be implemented simultaneously, totaling over 1.9 billion shares, thereby increasing BSR's charter capital from VND 31,005 billion to VND 50,074 billion. The implementation period is from now until the end of 2025, after approval from the State Securities Commission. This can be considered the largest issuance of new shares to reward shareholders on the stock exchange.
This capital increase plan was approved by the 2025 Annual General Meeting of Shareholders. The company stated that increasing the charter capital is an urgent requirement for the Dung Quat Refinery Expansion Project, aiming to increase the plant's production capacity to 171,000 barrels per day, diversify input sources, optimize production costs, and enhance competitiveness.
In addition, the company's Board of Directors also proposed to shareholders to change the current name to Vietnam Refining and Petrochemical Corporation (retaining the abbreviation BSR). The leadership stated that BSR is a core unit in the refining and petrochemical sector, so changing the name to a corporation is consistent with the strategic direction, elevates the organization, and repositions its image within the oil and gas industry value chain.
In 2025, BSR plans to achieve total revenue of VND 114,654 billion, a 7% decrease compared to 2024, but the company stated it will strive to reach VND 140,000 billion, a 14% increase. The target for after-tax profit is VND 752 billion, a 27% increase compared to 2024. The results for the first six months of the year show that the company achieved consolidated revenue of VND 68,667 billion, fulfilling 60% of the annual plan, and after-tax profit of VND 1,246 billion, a 34% decrease compared to the same period last year, but still exceeding the annual plan by 66%.
Source: https://thanhnien.vn/mot-doanh-nghiep-choi-lon-thuong-cho-co-dong-ca-ti-co-phieu-185250911141417947.htm
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